Kimmeridge reports 15.68M shares (7.5%) in Viper Energy

Viper Energy, Inc. ownership disclosure: Kimmeridge Energy Management Company, LLC reports beneficial ownership of 15,680,938 shares of Class A Common Stock, representing 7.5% of the class.

Rhea-AI Filing Summary

Viper Energy, Inc. ownership disclosure: Kimmeridge Energy Management Company, LLC reports beneficial ownership of 15,680,938 shares of Class A Common Stock, representing 7.5% of the class. The percentage is calculated using 194,311,958 shares outstanding as of March 31, 2026 and assumes exchange of the Reporting Person's Class B shares and New OpCo Units for Class A shares.

The filing notes the Reporting Person has sole voting and dispositive power over the 15,680,938 shares and that KMF DPM HoldCo holds rights to dividends or proceeds for more than 5% of the class.

Insights

Governance Analyst

Kimmeridge reports a substantial, disclosed stake in Viper Energy tied to an exchange assumption.

The filing shows 15,680,938 shares of Class A Common Stock, equal to 7.5% of the class based on March 31, 2026 outstanding shares. The ownership figure is calculated assuming conversion/exchange of the Reporting Person's Class B shares and New OpCo Units to Class A stock.

Key dependencies include the assumed exchange mechanics and the Issuer's outstanding share count; subsequent filings could revise the percent if exchanges or outstanding shares change.

Securities Counsel

Filing properly attributes voting and dispositive power and notes beneficial interest of an affiliate entity.

The Reporting Person states sole voting and dispositive power over 15,680,938 shares and discloses that KMF DPM HoldCo has rights to dividends or sale proceeds exceeding 5% of the class. The statement cautions against construing manager names as beneficial owners under Section 13.

Legal qualifiers include the exchange assumption for Class B and New OpCo Units; specific exchange timing or mechanics are not detailed in this excerpt.

Key Figures

Reported shares beneficially owned: 15,680,938 shares Percent of class: 7.5% Shares outstanding used: 194,311,958 shares

3 metrics

Reported shares beneficially owned 15,680,938 shares Amount held/attributable to Reporting Person

Percent of class 7.5% Percent of Class A Common Stock assuming exchange

Shares outstanding used 194,311,958 shares Shares outstanding as of March 31, 2026 (used to compute 7.5%)

Key Terms

New OpCo Units, Beneficial ownership, Sole dispositive power

3 terms

New OpCo Units financial

"issuable in exchange for 15,680,938 shares of Class B common stock, together with an equal number of limited liability company interests in VNOM Holding Company LLC"

Beneficial ownership regulatory

"Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole Dispositive Power 15,680,938.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Kimmeridge report in VNOM?

Kimmeridge reports beneficial ownership of 15,680,938 shares of VNOM Class A Common Stock, representing 7.5% of the class. The percentage uses an outstanding share base of 194,311,958 shares as of March 31, 2026 and assumes certain exchanges.

How was the 7.5% ownership percentage calculated for VNOM?

The 7.5% is computed using 194,311,958 shares outstanding as of March 31, 2026. The calculation assumes conversion/exchange of the Reporting Person's Class B shares and New OpCo Units into Class A Common Stock.

Does the filing state who controls the reported VNOM shares?

Yes. The filing states the Reporting Person has sole voting and sole dispositive power over the 15,680,938 shares of Class A Common Stock reported on the cover page.

Is any other entity disclosed as having rights to VNOM proceeds or dividends?

The filing discloses that KMF DPM HoldCo has the right to receive or direct the receipt of dividends or sale proceeds attributable to more than 5% of the outstanding Class A Common Stock.

Does the statement indicate the shares come from an exchange or conversion?

Yes. The disclosure explicitly states the 15,680,938 shares are issuable in exchange for 15,680,938 Class B shares together with an equal number of New OpCo Units, and the percentage assumes those exchanges.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 04:23 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Viper Energy, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.000001 per share

(Title of Class of Securities)

64361Q101

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 64361Q101

1

Names of Reporting Persons

Kimmeridge Energy Management Company, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 15,680,938.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 15,680,938.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,680,938.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.5 %

12

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person: Includes 15,680,938 shares of Class A common stock, par value $0.000001 per share ("Class A Common Stock"), issuable in exchange for 15,680,938 shares of Class B common stock, par value $0.000001 per share ("Class B Common Stock"), together with an equal number of limited liability company interests in VNOM Holding Company LLC, the Issuer's operating subsidiary ("New OpCo Units").

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Viper Energy, Inc.
(b)	Address of issuer's principal executive offices: 500 WEST TEXAS AVE., SUITE 100, MIDLAND, TX, 79701
Item 2.
(a)	Name of person filing: This Statement is filed on behalf of Kimmeridge Energy Management Company, LLC (the "Reporting Person"), a Delaware limited liability company and investment adviser, directly or indirectly, to certain funds (the "Kimmeridge Funds") with respect to the shares of Class A Common Stock of Viper Energy, Inc., a Delaware corporation (the "Issuer"), issuable in exchange for shares of Class B Common Stock and New Opco Units. The Reporting Person is managed by a board of managers consisting of Benjamin Dell, Henry Makansi, Neil McMahon, Noam Lockshin, Alexander Inkster, Neda Jafar and Emily Mills. The filing of this statement should not be construed as an admission that any of the foregoing persons or the Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of the Reporting Person is 15 Little West 12th Street, 4th Floor, New York, NY 10014.
(c)	Citizenship: The Reporting Person is organized as a limited liability company under the laws of Delaware.
(d)	Title of class of securities: Class A Common Stock, par value $0.000001 per share
(e)	CUSIP No.: 64361Q101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for the Reporting Person and is incorporated herein by reference. The percentage reported herein is calculated based upon 194,311,958 shares of Class A Common Stock outstanding as of March 31, 2026, as reported in the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 4, 2026, and assumes the exchange of all of the shares of Class B Common Stock and New OpCo Units beneficially owned by the Reporting Person.
(b)	Percent of class: 7.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for the Reporting Person and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for the Reporting Person and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for the Reporting Person and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a). KMF DPM HoldCo has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of the outstanding shares of Class A Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Kimmeridge Energy Management Company, LLC

Signature:	/s/ Tamar Goldstein
Name/Title:	Tamar Goldstein, General Counsel
Date:	05/11/2026